Mumbai: In a significant move to strengthen insurance penetration across underserved regions, AU Small Finance Bank (AU SFB) has entered into a corporate agency partnership with SBI Life Insurance. The collaboration aims to make a wide range of life insurance solutions more accessible, particularly in rural and emerging markets across India.
Under the agreement, AU SFB will distribute SBI Life’s portfolio of protection, savings, retirement, and investment-linked insurance products through its extensive network of over 2,500 banking touch points spread across 21 states and four Union Territories. This wide reach is expected to play a key role in extending financial security to first-time and under insured customers.
Supporting ‘Insurance for All by 2047’
The partnership aligns with the Government of India’s vision of “Insurance for All by 2047”, which seeks to ensure universal access to insurance coverage. By leveraging AU SFB’s strong presence in semi-urban and rural areas, the collaboration is set to bridge gaps in insurance awareness and adoption.
Digital Integration for Seamless Access
As part of the alliance, SBI Life’s insurance offerings will be integrated into AU SFB’s digital platforms and customer service channels, enabling a seamless and customer-friendly experience. This integration will allow customers to explore, purchase, and manage insurance policies with greater ease.
The partnership reflects a shared commitment by both institutions to promote financial inclusion, enhance customer choice, and strengthen India’s evolving insurance ecosystem.
